26 May '15, 8am

#Singapore #residential leasing market resilient in Q1, will stay competitive #CREResearch

#Singapore #residential leasing market resilient in Q1, will stay competitive #CREResearch

Joseph Tan, Executive Director, Residential, CBRE said “Increased stock in the Core Central Region (CCR) and Outside Central Region (OCR) was the main reason for the sharper rental decline, compared to the Rest of Central Region (RCR). The CCR, which traditionally has the highest supply of rental stock, was hit by the shrinking budget of expatriates and the availability of newer accommodation at more attractive rents. Outside of the Central Region, an unprecedented number of new condominiums sprouted in the suburbs in 2014. Of these, a substantial proportion was bought for investment and not for owner-occupation. Under the present lull market, these owners were more prepared to secure tenants at lower rents rather than leave them vacant. As for the RCR, As for the RCR, the higher percentage of ‘shoebox’ units (apartments less than 600 sf) which reflect a high $ psf rate ov...

Full article: http://www.cbre.com.sg/aboutus/mediacentre/mediaarchives/...

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